Prairie Village-based Flint Development’s development agreement to build 4.7 million square feet of Class A industrial space with interchange access to Kansas Highway 10 was unanimously approved by the De Soto City Council.
On Thursday, the City Council voted 4-0 on the approximately $390 million Flint Commerce Center. The land will include six facilities ranging from 300,000 square feet to 1.3 million square feet, for industrial, manufacturing and distributing uses on the northwest corner of 103rd Street and Edgerton Road.
The facilities will be built in multiple phases, and up to $500 million worth of industrial revenue bonds will provide tax abatements, according to city documents. Road improvements with the project must be completed no later than Dec. 31, 2023.
The City Council agreed to issue $100 million worth of industrial revenue bonds for construction materials for the first phase of the development, which would be a 1,002,240-square-feet speculative building. De Soto mayor Rick Walker said the developer did not specify a tenant but is on the hunt for an occupant.
A maximum of $500 million in industrial revenue bonds will be issued as an incentive mechanism for Flint Commerce Center’s construction of a 10-year-abatement real estate tax for subsequent phases of the project.